Since the dawn of the internet, data privacy has become a crucial concern. A large amount of personal information is transmitted over computer networks, making it imperative to safeguard it.
Most companies are bound by HIPAA, GDPR (General Data Protection Regulation) or other industry-specific or locality-based privacy regulations. It is estimated that by the end of 2024, 75% of the world’s population will have their personal data protected by one or more privacy regulations.
Prioritising compliance with these regulations is a necessity for companies of all sizes, as evidenced by the rise in GDPR violations and the hefty fines associated with them.
To comply with protecting personally identifiable information (PII) companies should keep up with the latest trends.
Here are the top data privacy trends to watch in 2023:
AI Governance:
Nearly 40% of privacy compliance technology requires AI to function. AI has become ubiquitous in many applications we use daily, but it also raises concerns about what happens when something goes wrong. AI governance is a new trend in data privacy and thus must be properly governed to ensure that automated processes do not inadvertently expose sensitive data.
Consumer Privacy UX:
Putting more privacy power into the hands of consumers has become a recent trend. Many privacy regulations require apps and websites to provide data transparency. A centralised privacy portal that allows users to access privacy-related settings in various apps is becoming increasingly popular. This provides users with better visibility into how their data is being used.
Increased Scrutiny of Remote Employee Monitoring:
The pandemic has permanently altered the global workforce, with many organisations now working entirely remotely. Companies are increasing their monitoring of off-site employees, which poses data privacy concerns.Endpoint device monitoring is frequently used for security reasons, but companies must ensure that they do not infringe on the rights of their staff by collecting or backing up personal data that belongs to the employee and not the company.
Data Localisation:
Data localisation has become a significant concern as organisations look at where their cloud data is being stored. The location of a server determines the privacy regulations and rules that it must adhere to. As a result, companies and governments are now asking cloud providers where their data is stored, with many preferring their data to be as close to home as possible.
Privacy-Enhancing Computation (PEC):
Privacy-enhancing computation (PEC) is a term that refers to the use of privacy-enhancing AI to help cybersecurity. By incorporating PEC into software and apps, developers can automate data protection and address privacy concerns. #cybersecurity #data #technology #compliance #ux #cloud #software #security #privacy #gdpr
Contact us for help with a compliance checkup.
1300 002 001